Eighty Seven Percent

March 9th, 2009

Uh oh, even Capital One can’t keep the Vikings at bay.

Capital One Financial Corp (COF.N) said on Monday it trimmed its quarterly dividend 87 percent to save $500 million annually as credit card losses increase.

The bank and credit card company cut its dividend to 5 cents a share from 37.5 cents a share.

The key point to remember is they are still paying a dividend. A little something is better than nothing any day. Right?

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